Housing and retail planned for long-vacant land in Regency area

That large patch of sand just west of the Southside Connector could soon be sprouting homes and apartments.

Ten years ago it was called Kendall Town Center when developers got the OK for apartment complexes, hundreds of single-family homes and retail on both sides of the Southside Connector.

A Walmart and more retail, along with condominiums, were built on the east side of the highway, but little ever happened on the west. Some work was done to prepare for the apartments, but like so many projects at the time, that was it. The land eventually was foreclosed.

But last month, a new group of investors paid $6.5 million for about 125 acres.

Jim Kern, managing director of the partnership called Indigo Jax LLC, said he expects to start construction on the apartments and homes.

Kern is based in Miami but is involved with several partnerships that own properties in Jacksonville, including Pecan Park RV Resort and the flea market next door.

Most of the roads and utilities for a 378-unit apartment complex had already been placed just south of Tredinick Parkway and Kern said that will be constructed. South of that, there are plans for about 100 single-family homes, starting at about $195,000 or $200,000.

More homes will go to the north, he said, but he’s not sure how many.

“It’s permitted for more than we’ll ever use,” he said. “We could do another 370 apartments and some crazy amount of retail. We’ve got 45 acres for retail, but I wouldn’t be surprised if we scale that down to 20 or 25.”

While Kern expects to break ground on the apartments and single-family homes this year, the retail is farther off, he said.

Last summer, Lennar Homes paid $3.2 million for land 56.9 acres, at Mill Creek and Lone Star roads, just west of Indigo Jax’s property. That site has been permitted for 188 single family homes.

And then there’s Regency Square mall. Last year, Rockwood Real Estate Advisors of New York started marketing the troubled mall for its owners, General Growth Properties of Chicago.

Kern said he’s heard that a contract has been signed with a buyer, but neither Rockwood or GGP would respond to questions about it.

“Whatever happens there is an improvement,” Kern said.

“And you’ve got Walmart, Lowe’s, those apartments all doing well. It’s not going to be St. Johns Town Center, but there is a solid demand in Jacksonville for residential and it seems to be improving.”